Common use of Bank’s Right to Cure Clause in Contracts

Bank’s Right to Cure. Notwithstanding anything to the contrary in the Lease or this Agreement, Tenant shall give written notice simultaneously to Landlord and to Bank of any default or breach by Landlord under the Lease that are of such a nature as to give Tenant a right to terminate the Lease, to reduce rent, or to credit or offset any amounts against future rents. After Bank receives such notice, Bank shall have the same time period available to Landlord under the Lease in which to cure the breach or default by Landlord. Bank shall have no obligation to cure (and shall have no liability or obligation for not curing) any breach or default by Landlord.

Bank’s Right to Cure. Notwithstanding anything to the contrary in the Lease or this Agreement, Tenant shall give prompt written notice simultaneously to Landlord and to Bank of any default or breach by Landlord under the Lease that are of such a nature as to give Tenant a right to terminate the Lease, to reduce rent, or to credit or offset any amounts against future rents. After Bank receives such notice, Bank shall have a period of sixty (60) days beyond the same time period available to Landlord under the Lease in which to cure the breach or default by Landlord. Bank shall have no obligation to cure (and shall have no liability or obligation for not curing) any breach or default by Landlord.